Msians coming to work in Spore know very well that they have to
pay CPF IN Spore and can only withdraw the money after 55 like all
Sporeans. If Msians work in Msia they also have to pay EPF. Over
the years S$ saved in CPF in Singapore has doubled in value
compared to ringgit. Besides, to many of them it is saver to put
the money with the spore government than the msian government. So
are the Msians complaining? NO, unless they were allowed to
withdraw the money out and go straight into their individual bank
account. If it is to each individual account, then it does not
benefit the Msian government!! Why are they bargaining?
The point is that if the CPF money were to be transferred, it would
go to the Msians EPF accounts, not straight into the Msians
pocket!!! The Msians government will have a lot of money to build a
few more towers or bridges but it does not benefit the Msians CPF
account holders. That explains why no sound from the Msians CPF
members and they are still coming to work in Spore and pay
CPF!!
It should be noted that CPF pays members 2.5% for ordinary account,
and 4% for special account, while banks pay for saving 0.125%. That
is why Singapore government is asking us to invest our CPF
money.
There is no doubt that the CPF money, legally and rightfully
belongs to the members, sporeans and msians. Do the msians account
holders want the money in CPF or EPF? and if msians were allowed
early withdrawal then wouldnt sporeans be disadvantaged? It may be
a matter of time before msians are treated like all foreign
workers, but before that, we dont have to give up our bargaining
chip.
